World Bank to disburse $750m for Nigeria’s power sector in 2021

Sep 18, 2020

Nigeria will be able to count on the $ 750 million planned by the World Bank to support the reforms of the electricity sector from 2021. The disbursements, which will be made in three installments, will end in 2023 and will allow the country to improve its electricity supply. The World Bank has announced that…

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Nigerian electricity consumers to pay N417.09bn in 4 months following tariff hike

Sep 18, 2020

Following the recent increase in electricity tariffs, the 11 distribution companies in the country are allowed to collect a total of N417.09bn from their customers from September to December. The Discos had early this month announced what they called ‘new service reflective tariff’, which took effect from September 1, with the tariffs being charged residential…

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NERC says customers to pay for metering through cost of tariff

Sep 17, 2020

Commissioner for the Nigerian Electricity Regulatory Commission (NERC), Mr. Nathan Rogers Shatti, has said that Nigerian electricity customers won’t have to pay for meters in the new guidelines, as it would be covered through tariff costs, and customers who had paid for their own meters would be compensated. This was disclosed by the electricity regulator…

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CIGRE-West Africa National Committee inaugurated in Abuja – TCN

Sep 17, 2020

The Transmission Company of Nigeria (TCN) on behalf of the West African Power Pool (WAPP) has announced that the West African arm of the global community for the collaborative development and sharing of power system expertise known as the Congrés International des Grands Réseaux Electriques, West Africa National Committee (CIGRE- WANC) has been inaugurated. The…

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Nigeria’s power producers sell N294.16bn electricity in 5 months

Sep 17, 2020

Electricity generation companies in the country sold electricity worth N294.16bn in the first five months of this year to the Nigeria Bulk Electricity Trading Plc. The government-owned NBET buys electricity in bulk from Gencos through Power Purchase Agreements and sells through vesting contracts to the distribution companies, which then supply it to the consumers. NBET…

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Lagos selects front runners in smart meter hackathon

Sep 16, 2020

The Lagos State Government has picked front-runners that will participate in the final hackathon design event slated for September 16 through 18, 2020 when the state governor, Babajide Sanwo-Olu will announce the overall winner from each competing entries in hardware and software categories at the grand finale. Five contenders each emerged from both categories of…

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Nigeria’s electricity sector loses N365bn in 6 months to collapsed infrastructure, others

Sep 15, 2020

Insufficient gas supply, distribution and transmission infrastructure have continued to plague the power sector, forcing it to record losses amounting to N365 billion in the first half of 2020, H1’20. The losses, which also occurred mainly because of inadequate infrastructure, equipment failure and low water reserves, were recorded along the value chain by Generation Companies,…

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World Bank starts $750m power support fund disbursement in 2021

Sep 15, 2020

World Bank has disclosed that it would begin the disbursement of the $750 million it approved for Nigeria’s Power Sector Recovery Programme (PSRP) next year and complete the process in 2023. PSRP is expected to improve the reliability of electricity supply, achieve financial sustainability, as well as enhance accountability in Nigeria’s power sector, which is…

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Discos get 85% collection order from NERC

Sep 15, 2020

The Nigerian Electricity Regulatory Commission has directed power distribution companies to collect an average of about 85.84 per cent of the newly increased electricity tariffs from affected customers between September and December. It disclosed this in its latest orders in the matter of the Extraordinary Review of Multi Year Tariff Order 2015, which were issued…

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Nigeria’s petrol and power price increase upsets local business owners

Sep 15, 2020

Daniel Oyelesi, who runs a laundry business in Nigeria’s capital Abuja, is reeling from the double whammy of price rises for petrol and electricity imposed in recent weeks that he says will harm his two-year-old business. Earlier this month Nigeria’s president said the increases, announced days apart in early September, were needed to bolster Africa’s…

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